Fuel

Independence Day Gasoline Lowest in Decade

July 5, 2016
• by Staff

Photo via Wikipedia.

The national average price of a gallon of unleaded reached the lowest point over the Independence Day holiday in a decade as tracked by AAA.

The average price reached $2.27 and has fallen for 24 consecutive days and was the lowest in that time frame since 2005. The U.S. Department of Energy released similar data showing regular unleaded falling 3.8 cents on the week to $2.291 by July 4, which represents a decline of 50.2 cents from a year ago.

The current price level represents a three-cent-per-gallon savings for the week and nine-cent savings for the month, according to AAA.

"Year-over-year drivers continue to benefit from noticeable discounts at the price to refuel their vehicles and prices are down 50 cents per gallon versus this same date last year," according to a AAA release.

Among the regions tracked by the DOE's Energy Information Administration, the Midwest saw the sharpest decline of 8.3 cents to $2.208. The Gulf Coast's $2.074 price is the lowest among the nine regions.

Meanwhile, the price of diesel fell three-tenths of a cent to $2.423. Diesel is 40.9 cents lower than it was a year ago.

The company has now raised more than $88 million in funding from firms such as Invus Opportunities, Conversion Capital, Enterprise Holdings Ventures, Madrona Venture Group, Maveron, Perot Jain LP, Total Ventures and Vulcan Capital.

A recent bill proposed by California State Senator Nancy Skinner (D-Berkeley) lays out an even more aggressive plan for emissions reduction in the state and puts the transportation sector squarely in its crosshairs.